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Posts Tagged ‘recovery’

The One-Sided Economic Recovery

In Uncategorized on February 11, 2011 at 10:38 am

US business as a whole has recovered from the rescession. Profits for US companies are up 12 per cent since 2007. That is much better than businesses in Canada, Japan and most of Europe.
Despite the increased profits, US businesses are not hiring. Jobs available to new employees are often part-time with no benefits.
This is the third economic recovery in twenty years with little job growth. Gallup poll shows US with higher unemployment than Britain, Germany, Japan, Russia, and China. Even if pace of job growth accelerates to record levels, we will not reach full employment until 2016.
So the recovery is one-sided. US business is on the rebound and doing better than ever. Unemployment for many remains on the horizon for years.

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The Recession May Be Over But Where Is The Recovery?

In Uncategorized on September 23, 2010 at 9:37 am

The recssion of 2007-2009 is officially over. It was the longest recession in 50 years. The economy lost more jobs during this recession than during any other recession since the depression. Unemployment is at its highest level since World War II, if you include people working part-time who wish to work full-time and those who have given up looking for work.

But for many people the recovery has not started. The enconomy has lost more jobs than it has added since June 2009 when the recovery began. And the outlook for job creation remains bleak. Many economists estimate that job growth seems likely to stagnate or grow worse in the near future.

People’s need for protection from creditors has never been greater. Loss of income remains the biggest reason for people to file for bankruptcy protection.